HDFC, one of the leading home-loans lenders has observed that the prices of residential realty which were hitting the peak levels are now undergoing pre-slowdown.
Deepak Parekh, the Chairman of HDFC said that there is an improvement in the economic condition and therefore, developers have started charging premiums. Due to the land prices touching sky, the realty prices also shot up.
As per the report, there was a downfall of 25% in residential real estate prices in October 2009, but now it’s steeping upwards again.
Parekh observe this change in the most active markets of India, for instance, suburbs of Mumbai, NOIDA in the NCR, a Bangalore suburb etc which all are experiencing price hike.
Also, he plans for having a real estate regulator in place.